Begbies Traynor has concluded FY25 with a very strong performance. 12% revenue growth in FY25, from its multi-disciplined suite of services, has led to 7% growth in Adj. PBT and £19.4m in FCF pre-acquisitions (above expectations). Moreover, the macro-economic environment is supportive, and the pipeline of potential acquisitions is encouraging. We raise our FY25-FY27E Adj. PBT estimates 2%-5% and believe the group is significantly under-valued.
Begbies Traynor: Equity Development
May 29, 2025Disclaimer & Declaration of Interest
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